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February 9, 2021

Kilter Finance to invest up to $89m in Independent Insurance Group

By Verdict Staff

Independent Insurance Group has inked a definitive agreement for an investment by Kilter Finance, a KKR-backed insurance-focused specialty finance company.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
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by GlobalData
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Under the agreement, Kilter Finance will invest up to $89m into Independent Group.

Concurrently, Independent Group’s management and its founding private equity partner LKCM Headwater Investments will make a simultaneous investment at close.

Combined, the deal will provide a total capital raise of up to $114m.

Independent Group chairman and CEO Michael Upchurch said: “We are thrilled to join forces with Kilter Finance. Given their financial and insurance acumen, they quickly understood our business model, appreciated the uniqueness of what we have created and bought into our passion for structured settlements.”

“We couldn’t ask for a better partner to join us in our efforts to bring positive change, innovation and growth to our industry for the benefit of our brokers and payees,” Upchurch added.

Founded in 2018, Independent Group is the parent of Independent Life Insurance Company, an insurance carrier focused on the primary issuance of structured settlement annuities.

Independent Group president and chief strategy officer George Luecke said that majority of the funding from Kilter Finance will go to Independent Life.

The remaining capital will be used by the company for general corporate purposes and to accelerate its key strategic initiatives, including product development, technology enhancements and potential acquisitions.

Kilter Finance CIO Dan Knipe said: “We have been impressed by the business that the Independent Group management team has built and are excited to join LKCM-Headwater and management as a key capital provider to fuel the next phase of their growth.”

Last month, AI-driven auto insurer Loop raised $3.25m in seed funding led by venture capital firm Freestyle VC.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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